If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the second candy bar is
A) 25 utility units.
B) 20 utility units.
C) 5 utility units.
D) unknown as more information is needed to determine the answer.
D
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Ultimately, tariffs ________ the ability of foreign countries to buy the domestic country's exports and therefore ________ wealth
A) increase; create B) increase; destroy C) reduce; create D) reduce; destroy
Keynesians and non-Keynesians would largely agree on which one of the following statements?
a. Expansionary fiscal policy will tend to substantially increase current real output. b. Proper timing of discretionary fiscal policy is difficult to achieve. c. The use of discretionary fiscal policy is an important stabilization tool. d. Market forces will automatically direct the economy toward full employment.
Unlike the Kyoto Protocol, the Copenhagen Accord will:
a. include India and China as participants. b. strongly curtail emissions. c. seek to reverse global warming d. be noncontroversial.
When a country continually adds more capital to its existing stock productivity will:
A. decrease at a decreasing rate. B. decrease at an increasing rate. C. increase at an increasing rate. D. increase at a decreasing rate.